Member Info for euclid55

Just listned to the CEO video hard to believe that 1% of the diamond business is Investment & 99% is Jewelrey & they will turn this round into a huge 300B market!! Think they may be overly ambitious here, even if they do create the world's first Diamond Blockchain Exchange https://cedex.com/videos _______________________ Tgis is interesting "While some argue that diamonds can�t be seen as a commodity because they are unique and require individual evaluation, the industry is beginning to change with the introduction of Singapore's Diamond Investment Exchange (SDiX), the world�s first commodity bourse of its kind. They too have deployed technology to enhance diamonds as a financial asset. Linus Koh, CEO of SDiX said, �although the implementation of blockchain is still at its nascent stages, we see its potential in bringing greater transparency and security to potential investors." https://www.forbes.com/sites/pamelaambler/2017/09/10/how-blockchain-is-fixing-the-diamond-industrys-rampant-ethical-issues/#424b31ed25bc

Hi TR Smyth, Thought the white paper doc stated they are raising $30m in ICO (50m Tokens anticipated to sell) $30m / �23m Althoughthe Lightpaper doc states "Token sale goal 100,000 ETH x $476 = $47.6m / �36m https://cedex.com/img/LIGHTPAPER.pdf Either way if they manage to raise this amount, it doesn't necessaraly mean the co is worth this amount - depends if it is still aroundin 12 months time & the demand & users it has in it' new business - does sount interesting to say the least https://cedex.com/img/LIGHTPAPER.pdf

Net cash: Net cash: Evgen had �3.86m cash on the balance sheet at 31st March 2017, and with an average cash burn of ca. �300k per month, this will be sufficient to take the company through the next 12 months http://hardmanandco.com/docs/default-source/company-docs/evgen-pharma-documents/20.06.17-making-clinical-progress.pdf

from presentation: Underground mine contractor appointed in September 2017 ▪ Surface drilling targeting sulphides below the old workings commenced in September Evaluate additional metal credit potential including gold, silver, zinc and tungsten: ▪ Gold � historical intercepts include 5.72g/t Au (inc. 1.5m at 26.4g/t) ▪ Silver � historical intercepts include 9m at 126.6g/t Ag ▪ Tungsten � individual grab samples have been as high as 4.3%W03 https://static1.squarespace.com/static/5914577386e6c0cd77e15c74/t/5a0c9cb98165f525ba055a02/1510776010940/PGM+Presentation+Nov+15+2017.pdf

taken from presentation $1.102b / 1.30 = �847m x 80% wi = �680m / 230m shs = 296p Gross value https://static1.squarespace.com/static/5914577386e6c0cd77e15c74/t/5a0c9cb98165f525ba055a02/1510776010940/PGM+Presentation+Nov+15+2017.pdf

Table 1-9: Mineral Prices Mineral per tonne US$/t (FOB site) Ilmenite $125 CS2019 CS Forecast $150 Rutile $677 CS 2019 CS Forecast $900 Zircon $1,148 CS 2019 Forecast $1,313 The pre-tax Net Present Value (NPV) at a 10% discount rate is US$ 529 million Based on old Scoping Study report prices Updated Credit Suisse 2018 prices = 87% increase $529m x 87% = $457,975,000 = $987m $987m /1.30 = �760m NPV / 208m shares = 365p https://www.pathfinderminerals.com/~/media/Files/P/Pathfinders-ECW/Attachments/pdf/pathfinder-Minerals-Scoping-Study-Report.pdf https://research-doc.credit-suisse.com/docView?language=ENG&format=PDF&sourceid=csplusresearchcp&document_id=1075659661&serialid=eqDIZ%2B5IxXzJAx20aksEGSjB8%2FwUC19UfWWTQko09ss%3D

Table 1-9: Mineral Prices Mineral per tonne US$/t (FOB site) Ilmenite $125 CS2019 CS Forecast $150 Rutile $677 CS 2019 CS Forecast $900 Zircon $1,148 CS 2019 Forecast $1,313 The pre-tax Net Present Value (NPV) at a 10% discount rate is US$ 529 million Based on old Scoping Study report prices Updated Credit Suisse 2018 prices = 87% increase $529m x 87% = $457,975,000 = $987m $987m /1.30 = �760m NPV / 208m shares = 365p hxxp://www.pathfinderminerals.com/~/media/Files/P/Pathfinders-ECW/Attachments/pdf/pathfinder-Minerals-Scoping-Study-Report.pdf https://research-doc.credit-suisse.com/docView?language=ENG&format=PDF&sourceid=csplusresearchcp&document_id=1075659661&serialid=eqDIZ%2B5IxXzJAx20aksEGSjB8%2FwUC19UfWWTQko09ss%3D __________ ________________________________________________________________________ The pre-tax Net Present Value (NPV) at a 10% discount rate is US$ 529 million page 17 $529m NPV / 1.30 �406m / 208m shs = 195p Npv per share

Forecast Highlights Zircon�Raise to price peak of $1350/t in 2H18 With Iluka's stocks apparently the only inventory left in the market, we raise prices to a peak in 2H18 when we expect Iluka's stocks will be exhausted, and it will have restarted mining. We believe customers will accept that higher prices are needed for the critical Jacinth Ambrosia mine to be economic. But we believe Iluka's claims that it is being careful with its price increases, as it would not want to repeat the two-year-boom�fiveyear-bust that occurred after the frenzied price increases of 2011-12. Rutile�forecasting slow but sustainable price rises across the forecast period We think Iluka may beat its guidance of a 4% contract rise for 1H-17 (implying ~$750/t). Ruidow reports Tronox rutile sold for ~$870/t CIF in China in April�probably for tetrachloride, not pigments�but still indicating pockets of real price strength. We forecast a price increase of $120/t YoY by 4Q-16. Thereafter, we expect gentle price increases of $50/t per annum, as we expect pigment price increases to be restrained, and Rio Tinto's latent TiO2 **** capacity to respond to any overly strong demand for high-grade feedstock lmenite�we increase forecasts due to China surge but risk that still too low Ilmenite prices have surged in China this year in response to solid demand, domestic supply outages following environmental inspections, and global tightness on Tamil Nadu's export ban ( loss of 40kt per month). China prices are now being experienced by suppliers 26 May 2017 Mineral Sand Forecasts 3 to China�Base Resources reporting a 200% price increase YoY for an April cargo. However, we have assumed these prices increases are not sustainable�they will provoke a supply response from existing mines that will maximise output and perhaps divert supply from **** furnaces to China. We forecast a slower price increase of roughly 100% YoY by 3Q, and further increases in future years. But there is risk that our prices may be too restrained. Why are prices increasing now? Mineral sands are not counter-cyclical�price response slowed by inventory It may seem odd that mineral sands are turning upwards in mid-2017, when the upswing in bulk commodity markets is mature and investors are now focused firmly on detecting the downturn. Markets are predicting the end of the China housing boom, the end of the FAI injections, and potential policy tightening, but meanwhile mineral sand prices lift. hxxps://research-doc.credit-suisse.com/docView?language=ENG&format=PDF&sourceid=csplusresearchcp&document_id=1075659661&serialid=eqDIZ%2B5IxXzJAx20aksEGSjB8%2FwUC19UfWWTQko09ss%3D

Table 1-9: Mineral Prices Mineral per tonne US$/t (FOB site) Ilmenite $125 CS2019 CS Forecast $150 Rutile $677 CS 2019 CS Forecast $900 Zircon $1,148 CS 2019 Forecast $1,313 The pre-tax Net Present Value (NPV) at a 10% discount rate is US$ 529 million Based on old Scoping Study report prices Updated Credit Suisse 2018 prices = 87% increase $529m x 87% = $457,975,000 = $987m $987m /1.30 = �760m NPV / 208m shares = 365p Technical - theoretical upside: Taking just 5% of this NPV at such a early stage plus licence risk issue = 18p or 1,539% upside Please DYOR hxxp://www.pathfinderminerals.com/~/media/Files/P/Pathfinders-ECW/Attachments/pdf/pathfinder-Minerals-Scoping-Study-Report.pdf hxxps://research-doc.credit-suisse.com/docView?language=ENG&format=PDF&sourceid=csplusresearchcp&document_id=1075659661&serialid=eqDIZ%2B5IxXzJAx20aksEGSjB8%2FwUC19UfWWTQko09ss%3D

Ontarget, what if BNR use the �900k to buy up another asset - don't forget that, as that could happen hopefully

comparison to IOG NPV values IOG first NPV/share �321,000,000 shs in issue 106000000 NPV/share �3.03 share price 0.26 Upside to NPV value 1065% Significant prospective resources in Harvey to be published in a forthcoming separate CPR - so an increase in NPV value expected - how much we don't know yet? Seems they are more advanced that CLNR as submited a FDP - however we have 1,750% more NPV upside to the Risked valuation on CLNR compared to IOG's figures today Independent Oil and Gas plc ("IOG" or the "Company"), the development and production focused Oil and Gas Company, is pleased to announce that it has today submitted the Field Development Plan ("FDP") to the UK Oil and Gas Authority ("OGA") for the Blythe Hub, which comprises the Blythe and Elgood fields. Commercial negotiations continue to be progressed upon the basis of deferrals of a substantial proportion of contractor costs as well as prepayments from potential gas offtakers to help meet the funding requirements. ndependent Oil and Gas plc ("IOG" or the "Company"), the development and production focused Oil and Gas Company, is pleased to announce that it has signed a Letter of Intent ("LOI") and Consultancy Master Services Agreement ("CMSA") with Schlumberger in relation to development of its two Southern North Sea gas hubs, the Blythe Hub and the Vulcan Satellites Hub. https://www.investegate.co.uk/independent-oil---38-gas--iog-/rns/blythe-and-elgood-fdp-submission/201707190700034363L/ _____________________________________________________________________ CLNR NPV Values price Upside to current price Percentage increase Unrisked 6.97 0.0165 695p 42,142% Risked Basis 0.47 0.0165 45p 2,748% See page 13 from report below: hxxp://allenbycapital.com/research/research-cluff-nat--resources_20_2084459540.pdf

Jackbean, IOG re more advanced - take a look at my ADVFN post from last as I did a comparison with IOG NPV values Thanks

"Following a successful completion of Phase I, the Group intends to raise additional funding, estimated to be $21.5million, and proceed to Phase II, a 58 well development programme in a pre-defined core area of the Coos Bay CBM project. The CPR estimates Contingent Resources for an aggregate of 58 wells from Phase I and Phase II at 25.17 BCF and $34.6m NPV10 to the Company. $35m Npv / 73m shs = �27m / 73m shs = 37p But funding required so will be more shares in issue https://www.investegate.co.uk/curzon-energy-plc--czn-/rns/admission-to-main-market-and-first-day-of-dealings/201710040700036188S/

Stew 200, you forgot the rest of the article what it highlights - lets post it below to keep the picture really clear to everyone: Pushed downpage by the fake Uzis — until events this week — is a link to a 1992 article about an Uzi Katz named in a wire fraud trial related to a scheme to “flip” 41 properties in eastern Massachusetts. That piece of unresolved criminal history in Boston cast a pall over a London-listed Israeli technology company on Wednesday, with its chief executive Oozi Cats having to take a leave of absence. Telit Communications launched an urgent investigation into whether there was a link between their CEO, who has led the company since 2000, and the accused man in Boston. That Mr Katz, and his wife Ruth Veronica Katz, were indicted for wire fraud, according to court documents reviewed by the Financial Times. Warrants were issued, but the couple became fugitives. Mrs Katz fled the country after posting bail, despite having her Israeli passport confiscated, according to a bench warrant. Court documents do not show that either warrant has been dismissed. A land flip occurs when a property is bought and sold several times in quick succession using “straw” buyers. After the value of the property has been fraudulently inflated, the co-conspirators obtain a mortgage in excess of the amount a mortgage lender would be willing to advance to buy the property. The unresolved case is now at the centre of the investigation ordered by Telit’s board and being carried out by the law firm Cameron McKenna. https://www.ft.com/content/753d0446-7d01-11e7-ab01-a13271d1ee9c

Heres the web link to the below hxxp://www.sentiance.com/2017/06/27/sentiance-secures-e8-million-in-funding-led-by-volta-ventures/

Sentiance secures €8 million in funding led by Volta Ventures NEW FUNDING WILL FURTHER SCALE THE COMPANY’S SENSOR ANALYTICS PLATFORM TO A COGNITIVE SYSTEM FOR HUMAN BEHAVIOUR AND ACCELERATE INTERNATIONAL GROWTH IN US AND ASIA. Antwerp, New York June 27, 2017 – Sentiance announces today that it has secured €8 million in funding led by Volta Ventures, with co-investor KPN Ventures. All previous investors including Samsung Catalyst Fund, Qbic, Pamica (Michel Akkermans) and top management participated in the new funding round. The investment will be used to execute on Sentiance’s vision to gain leadership, strengthen its intelligence platform and accelerate the growth globally. The company’s platform uses machine learning algorithms and deep learning techniques to analyse IOT sensor data from mobile phones, wearables and IoT gateways. Sentiance turns this data into rich behavioural and contextual insights: understanding and predicting how people go through their everyday lives. Clients use the Sentiance platform to enrich their first-party customer data with real-life behavioural data so they can deliver context-aware and highly personalized experiences. Sentiance powers a broad range of applications including world class telematics and driver scoring, personalized health coaching, real-time customer engagement as well as smart home products and services. “As IOT gains momentum consumers are rapidly adopting smart objects in their everyday lives. The sensors in these IOT devices generate a ton of data about how they behave and why they behave the way they do. Sentiance helps companies make sense of this new and very powerful data. Some of the world’s most innovative companies are adopting our platform to help them make their customers’ lives safer, smarter, healthier and more convenient. Ultimately the Internet of Things should be about people, not things. We believe the real promise of IOT is the Internet of You.” said Toon Vanparys, CEO of Sentiance. “Major players in the insurance, ride-hailing, mobility, health and IOT industries use Sentiance’s AI platform to power the Internet of You. This has the potential to change the lives of everyone around us which makes working with the Sentiance team such a positive and rewarding experience.” said Frank Maene managing partner of Volta Ventures. “Sentiance was the first investment we made when we started the fund in January 2015 and we’re excited to continue our journey with them as the team grows to its next stage.” Herman Kienhuis, managing director of KPN Ventures adds: “The future digital customer experience will be fully personalized. Sentiance’ powerful predictive analysis technology offers companies a unique tool to improve their customers’ experience and develop new personalized services, while respecting strict European privacy laws. We’re happy to support

One good factor here compared to many small listed co's is that they quickly changed their strategy & moved into a valauable potential ssset to exploit - rather than sitting around collecting salaries for the next 6 months

Orien, The mining policy change was out of all companies controll - this would of affected Anglo Mining or BHP & Glencore so least you forget that. It's not like the co did something wrong "The Company notes that there has been some uncertainty in the Philippines of late regarding mining policy. The Secretary of the Department of the Environment and Natural Resources (DENR) has stated that a number of operating mines would be suspended from operations citing environmental related issues." https://www.investegate.co.uk/bluebird-merchant--bmv-/rns/update-re-batangas-gold-project/201702220700115198X/

SAU's gold mines are most probably exploration mines so they will require plenty of capital to place these into production Worth calculating some NPV values for the Gubong mine to see the potential once they brong this back into production

Hello F458, Agree a balanced view is always important. I don't mibd phased placings so long as the BoD participate & funds are put to very good use & at the right time. 99% of Small mining co's have to raise funding to develop their mines. Based on the G/Tn in the various 3 veins I would expect good grades & results. But we shall see what gets released. Yes an still invested in Mafl....another co with a high Npv....but this is early stage & years away from cash flow. Expect Mafl Bod's to sell or Jv this based on their experience